Loading AI tools
From Wikipedia, the free encyclopedia
MicroPlace was an American microfinance provider that focused on retail investors. Started by Tracey Pettengill Turner in 2006, MicroPlace was bought out by eBay that same year.
| |
| Company type | Subsidiary |
|---|---|
| Industry | Impact Investing |
| Founded | 2006, in San Jose, California, U.S. |
| Founder | Tracey Pettengill Turner |
| Headquarters | San Jose, California , U.S. |
| Website | www |
MicroPlace provided everyday investors with the ability to make investments in the microfinance industry that had the potential to earn interest.[1] This contrasts with most other services for microlenders, which generally rely on a charitable model.[2] Interest earned was typically between 1 and 3 percent.[3]
The company acted as a broker-dealer and is registered with the SEC and is a member of FINRA.
MicroPlace was founded by Tracey Pettengill Turner and was bought by eBay for an undisclosed amount in 2006.[4][5] Her hope is to expand the microfinancing industry from its current base of 100 million people to 1 billion people, with help from the middle class of affluent nations (the United States, European Union, etc.).
Ashwini Narayanan took over as the general manager of MicroPlace until 2012.[citation needed]
On January 14, 2014, MicroPlace announced that it would cease offering investments.[6]
Seamless Wikipedia browsing. On steroids.
Every time you click a link to Wikipedia, Wiktionary or Wikiquote in your browser's search results, it will show the modern Wikiwand interface.
Wikiwand extension is a five stars, simple, with minimum permission required to keep your browsing private, safe and transparent.
